Iowa’s new medical marijuana law takes effect Saturday and a Minnesota cannabis producer says it may face some issues as his business is not yet profitable two years into that state’s program.
Andrew Bachman is a medical doctor and CEO of Leafline Labs. He says Minnesota’s law creates a more sustainable business climate, in part because Iowa’s law limits the THC content of medical cannabis.
“Not only does Minnesota have almost twice the size of population, we also do not have limitations in what we can create as medicine here in Minnesota,” Bachman says. “So it ends up being a much broader program in that regard.”
The two states have similar medical cannabis laws, but Iowa’s is more restrictive. Iowa’s new law will allow for 2 medical cannabis manufacturers and 5 dispensaries in the state. Bachman says Iowa may be overestimating how many residents will take part in the expanded program.
Iowa’s Legislative Services Agency estimates 6.000 people will register to use medical cannabis, but Bachman says that’s a very generous guess. “In two years of this program, as of Friday, we now have 6,100 patients in Minnesota,” he says. “So 23-plus months in, that’s when we’ve achieved that number.” Bachman made his comments on Iowa Public Radio’s program, “River to River.”
(Thanks to Katarina Sostaric, Iowa Public Radio)